Governance
The ultimate goal for any organization is to create value for shareholders and for achieving such goal, a robust enterprise governance is of vital importance!
We help the organization’s BoD in developing the appropriate governance model that are suitable to their organization in all respects and helps enable the execution of governance responsibilities at all levels.
We help the organizations in understanding the different roles and responsibilities of Board, senior management and internal audit in developing an effective governance system
Without a sound business process in place, the brightest of brains and the best of technologies can come to halt!
We develop processes with the aim of improving business performance without compromising sound risk management principles. While developing the processes, key Performance Indicators related to the following are always kept in mind:
- Customer service
- Employee engagement
- Resource utilization
- Our Methodology
The changing patterns of work and technological advances bring strong competition in the market and to survive and progress, companies need to find the optimal solution in utilizing their resources.
One method is to bring flexibility in work models by outsourcing specific functions. Outsourcing promotes task-oriented environment and provides the agility necessary to keep up with the changing times as well as being cost and time effective.
Why we can deliver what we promise?
Right Team having the relevant experience in the field of Internal Auditing, Governance and Risk management.
Relevant Market and Sector Experience, of working in the Middle East and Pakistan in the field of Internal Audit. Vast experience of internal audit of companies working in the field of construction, manufacturing, power and services sector.
Strong engagement of a Principal Consultant with extensive experience in the domain of Internal Audit and Risk Management.
Experience of both sides of the table – Our principal consultant has served in top tier multinationals in various risk related functions and also in advisory services.
Accurate and reliable financial reporting is required not only for depicting correct performance but also for making precise business decisions!
We believe in taking a top down risk based approach to design and implement optimum business controls. We combine our deep understanding of the business with the risk management mindset to help clients have a set of controls which do not hamper business operations or negatively impact customer centricity yet ensure the protection of its valuable assets.
We use COSO framework as a foundation and utilize our in depth business knowledge across various industries to provide distinguished services to our clients.
Risk can be transformed into a business enabler when managed effectively! A methodological approach towards taking the right risks and mitigating the rest is a recipe to sustainable business performance.
We work with the organizations to:
- Design and implement the risk management framework
- Advice on how to create conducive culture for risk management
- Provide appropriate tools
- Train people for better decision making
If an entity is unable to foresee the risks it is being exposed to and does not identify and manage them, then the operations and resulting profits have a great uncertainty attached to them. We advise companies in this domain so they are able to quantify the likely impact of risks which help them to seize opportunities and mitigate threats both in the short and long term.
In todays global and competitive business environment out of service could literally mean out of business!
- A sound and robust business continuity plan covering all the aspects related to Technology, Infrastructure and the Human Resource can help you avoid or not panic in case a major break down happen.
- Our plans are based on comprehensive risk assessment and Business Impact Analysis so that a right level of investment can be made to ensure sustainable business operations. We also work with the organizations to test their Business Continuity/Disaster Recovery plans.
We are actively engaged in IFRS advisory specifically IFRS Conversion services in the Kingdom of Saudi Arabia.
This is how we help:
- A general understanding of IFRS standards, and analysis of first time adoption options under IFRS
- Preliminary diagnostic analysis / impact assessment and recommendations
- Compliance review in the context of legal regulations pertaining to reporting to supervisory authorities
- Support in implementing the new accounting standards, detailed research on specific issues and development of accounting policies
- Assessment of data collection, controls and IT system processes and redesign of new processes
- Preparation/review of skeleton accounts and financial statement disclosures including transition notes
- Development of an IFRS adoption project plan
- Communication of the impacts of the conversion to IFRS to stakeholders (analysts, regulators, funders and owners/ shareholders) and understand the impacts of changes on KPIs
- IFRS Training
We help our government on different policy matters that are of consideration and covers different economic sectors through the following:
- Sectoral analysis;
- Critical analysis of different policies of the government
- Engaging public opinion through conducting polls;
INSIGHTS
What our clients say about us
We collaborated with Hyphen consultancy in 2014 and outsourced internal controls design assessment including process review, preparation of test plans and conducting walkthrough. During the three months’ assignment, hyphen consultancy resources were deputed at our office who were good in collaborating the activities within the organization and concluded the activity within project timelines. Hyphen consultancy management were also available for guiding their resource when required and were supportive in understanding our requirements and concerns.
Imran Ashraf
I had the opportunity to work with Faheem on a special review assignment of SOCPA related to telecom sector. I must say that Faheem had an in depth knowledge about his work and contributed immensely towards the success of that project.
Asif Iqbal
Premier Oil has engaged Hyphen Consultancy several times over the last three years for Partners’ audit of Operator records and the results we have gotten have always been very positive. Faheem has a take-charge attitude and subtle-yet-confident approach that resulted in him being immediately received appreciation from all quarters in Oil & Gas exploration and production industry. Hyphen has added value not only for us but for the Operator as well. Hyphen is dedicated to their clients, deliver reports within agreed timelines and even supported clients till the close out of all the findings.
Munir Malik
It is my pleasure to provide feedback on Hyphen Consultancy performance to-date on the IFRS conversion for Binzagr Co. In perspective, we had selected Hyphen and awarded them the IFRS conversion task from a choice of 5 leading contenders including big name Consultancies. However we opted for Hyphen because of their promise to head the task with their experienced consultants and close supervision and involvement of Faheem Piracha, the head of Hyphen Consultancy. While the task is spread over three phases including opening balances of 2017, then 2017 year end comparatives, and review of 2018 and the project is still ongoing, we have noted that Hyphen is delivering as promised. The team is dedicated, is collaborative and delivers beyond the content of deliverables in the signed agreement. I have no hesitation in recommending their professionalism, timing and delivery to another organization for similar services.
Tausif Hashmi, FCA
It’s been sometime working along with Hyphen Consultancy seeking their support in SOCPA IFRS Transition, Audit & Risk Consultancy and developing Resource & Audit Management solutions. Throughout this association (and continuing), Faheem Piracha (the CEO of Hyphen) and his staff have displayed great understanding, good knowledge of applicable Standards, disciplined work approach, and willingness to learn. Our recent experience working alongwith their Audit resources have been amazing. Due to reasons, we preferred them over the Big-4 firms with words of caution. However, their contribution in the successful revamping of Internal Audit function in our Group was as good as we could have expected from the Big-4 firms. Once again, their understanding, knowledge and disciplined work approach helped us to achieve this milestone. I wish Faheem and his colleagues at Hyphen all the success in the coming days, and hope that Hyphen would be viewed as a success story for young entrepreneurs in Audit, Risk & Business Advisory Services.
